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Nonprofiteer
← HOUSING AMERICA CORPORATION

Form 990 for tax year 2023

Filed by HOUSING AMERICA CORPORATION.

Totals

Total revenue
$3,473,111
Total expenses
$2,684,489
Contributions and grants received
$1,568,233
Grants paid
$0
Program service revenue
$1,895,365
Investment income
-$53
Other revenue
$9,566
Total assets, end of year
$9,482,024
Total liabilities, end of year
$977,719
Net assets or fund balances, end of year
$8,504,305
Program services expenses (Part IX)
$2,340,427
Management and general expenses
$344,062
Fundraising expenses
$0
Program service expenses (Part III)
$2,340,427

Program services were 87.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $1,568,233

  • 2a · Program service revenue: MANAGEMENT SUPPORT SER

    total $1,514,833 · related or exempt $1,514,833

  • 2b · Program service revenue: APARTMENT RENTALS

    total $359,075 · related or exempt $359,075

  • 2c · Program service revenue: MANAGEMENT FEES

    total $31,925 · related or exempt $31,925

  • 2d · Program service revenue: PROPERTY DEVELOPMENT

    total $4,256 · related or exempt $4,256

  • 2e · Program service revenue: AMISTAD K-1

    total -$14,724 · related or exempt -$14,724

  • 3 · Investment income

    total $1,339 · related or exempt $1,339

  • 7b · Less cost or other basis and sales expenses

    other assets $1,392

  • 7c · Gain or loss

    other assets -$1,392

  • 7d · Net gain or loss

    total -$1,392 · related or exempt -$1,392

  • 11a · Other revenue: TENANT CHARGES/LAUNDRY

    total $9,466 · related or exempt $9,466

  • 11b · Other revenue: MISCELLANEOUS REVENUE

    total $100 · related or exempt $100

  • 11e · Other revenue, total

    $9,566

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,051,702 · program services $915,161 · management and general $136,541

  • 8 · Pension plan contributions

    total $28,157 · program services $26,007 · management and general $2,150

  • 9 · Other employee benefits

    total $95,184 · program services $87,889 · management and general $7,295

  • 10 · Payroll taxes

    total $81,968 · program services $70,675 · management and general $11,293

  • 11a · Fees: management

    total $70,051 · program services $70,051

  • 11b · Fees: legal

    total $518 · program services $251 · management and general $267

  • 11c · Fees: accounting

    total $9,318 · program services $8,793 · management and general $525

  • 11g · Fees: other

    total $4,700 · program services $4,700

  • 12 · Advertising and promotion

    total $8,407 · program services $8,320 · management and general $87

  • 13 · Office expenses

    total $43,098 · program services $34,077 · management and general $9,021

  • 14 · Information technology

    total $26,115 · program services $19,421 · management and general $6,694

  • 16 · Occupancy

    total $254,668 · program services $242,061 · management and general $12,607

  • 17 · Travel

    total $78,997 · program services $75,091 · management and general $3,906

  • 20 · Interest

    total $54,725 · program services $54,725

  • 22 · Depreciation, depletion and amortization

    total $251,157 · program services $240,445 · management and general $10,712

  • 23 · Insurance

    total $100,535 · program services $91,904 · management and general $8,631

  • 24a · Other expenses: OTHER MISCELLANEOUS EXP

    total $249,793 · program services $127,104 · management and general $122,689

  • 24b · Other expenses: CLOSING EXPENSE/SALE

    total $56,354 · program services $56,354

  • 24c · Other expenses: PROPERTY TAXES

    total $53,318 · program services $53,318

  • 24d · Other expenses: APPRAISALS

    total $41,690 · program services $41,690

  • 24e · All other expenses

    total $124,034 · program services $112,390 · management and general $11,644

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,747,808 · end of year $4,871,929

  • 4 · Accounts receivable

    beginning of year $415,323 · end of year $492,006

  • 8 · Inventories for sale or use

    beginning of year $3,891,781 · end of year $2,134,985

  • 9 · Prepaid expenses and deferred charges

    beginning of year $37,212 · end of year $42,854

  • 10a · Land, buildings and equipment: cost or other basis

    $7,811,873

  • 10b · Land, buildings and equipment: accumulated depreciation

    $6,486,193

  • 10c · Land, buildings and equipment, net

    beginning of year $1,347,355 · end of year $1,325,680

  • 15 · Other assets

    beginning of year $634,782 · end of year $614,570

  • 17 · Accounts payable and accrued expenses

    beginning of year $106,815 · end of year $73,773

  • 23 · Secured mortgages and notes payable

    beginning of year $2,218,319 · end of year $870,458

  • 25 · Other liabilities

    beginning of year $33,444 · end of year $33,488

  • 27 · Net assets without donor restrictions

    beginning of year $7,715,683 · end of year $8,504,305

Mission and programs · 2023

Mission

TO PROMOTE THE GENERAL SOCIAL WELFARE OF THE COMMUNITY, INCLUDING THE DEVELOPMENT, RENOVATION AND/OR PROVISION OF HOUSING FOR LOW, VERY LOW AND MODERATE INCOME FAMILIES PURSUANT TO THE REGULATIONS OF FHA AND HUD.

Activities or mission (Part I)

TO PROMOTE THE GENERAL SOCIAL WELFARE OF THE COMMUNITY, INCLUDING THE DEVELOPMENT, RENOVATION AND/OR PROVISION OF HOUSING FOR LOW, VERY LOW AND MODERATE INCOME FAMILIES PURSUANT TO THE REGULATIONS OF FHA, USDA-RD AND HUD.

  • PROVIDE 88 APARTMENT UNITS FOR LOW-INCOME FAMILIES AND MIGRANT FARM WORKERS.

    Expenses $992,212 · Revenue $919,960

  • SUPERVISED CONSTRUCTION OF HOMES AND ADMINISTERED GRANTS FOR RECIPIENTS OF USDA SECTION 502 LOANS. PROVIDE TECHNICAL ASSISTANCE AND SUPERVISION FOR THE CONSTRUCTION OF THE MUTUAL SELF-HELP HOMES.

    Expenses $897,295 · Revenue $1,007,234

  • PROPERTY DEVELOPMENT PROGRAM ALLOWS THE ORGANIZATION TO PURCHASE LAND AND PREPARE IT FOR DEVELOPMENT WHICH WILL BE USED BY THE SELF-HELP PROGRAM.

    Expenses $450,920 · Revenue $1,208,638

As filed on the 2023 return.

Listed in Part VII

  • Ana Robles

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Manuel Figueroa

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Rosa Isela Varela

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Carol Castro

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Sandra Jones

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
11 February 2025
IRS schema version
2023v6.0
Source object
202530429349300433

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